OPEC

Exports of two Nigerian crude oil grades, Qua Iboe and Bonny Light, are set to rise in March. April loading programmes for several Nigerian grades emerged late last week, according to Reuters. Exports of Qua Iboe, the…
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With Nigeria relying heavily on oil as its main source of revenue, the recent move by Organization of the Petroleum Exporting Countries (OPEC) to cut down daily oil production of member countries would cripple the expected revenue from…
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The Organisation of Petroleum Exporting Countries (OPEC) has warned that rising geopolitical tensions across the world was still an existential challenge to a stable oil market in 2019. It also noted the potential impact of…
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The world’s third largest crude producer – Saudi Arabia, is seriously ‘courting’ India, which also happens to be Nigeria’s biggest crude market. Saudi’s Crown Prince, Mohammed bin Salman, last week visited New Delhi where he met with…
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President Muhammadu Buhari on Wednesday pledged the cooperation of Nigeria to the effort to reduce oil output in order to attract higher prices in the global market. President Muhammadu Buhari receiving Ahmad Qattan at the…
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See how IG clients are positioned on the Dow, Crude oil and the US Dollar with our free IG Client Sentiment Data. West Texas Intermediate (WTI) crude oil climbed over 1.8% on Wednesday as two supply headwinds unfolded in tandem.…
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. Nigeria is about to ship the first cargo of crude oil from a new deposit about 90 mi off its coast. The 1 MMbbl consignment, which will head toward the Dutch port of Rotterdam, comes at a tricky moment for the West African…
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For the first time in 2019, the price of crude oil has surged from $64.00 recorded last week to $66.35 over the weekend as a result of Organisation of Petroleum Exporting Countries, OPEC efforts targeted at eliminating excess oil from the…
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Crude oil price rose yesterday to $63 per barrel after top exporter, Saudi Arabia, said it would cut crude exports and deliver an even deeper cut to its production. While the global benchmark crude, brent crude rose by 77 cents at…
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Nigeria’s crude oil production including condensate has taken a dip, falling to 1.999 million barrels per day in January from 2.081 million bpd in December, figures from the Ministry of Petroleum Resources has revealed. This is…
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